Md. Code Regs. 09.10.06.14 - Owners
A. If the applicant
is an unincorporated business association, the application documents shall
identify:
(1) Each person who exercises
voting rights in the applicant ; and
(2) Each person who directly or indirectly
owns 2 percent or more of the business association.
B. If the applicant is authorized to issue
capital stock, the applicant shall state, for each class of stock authorized,
the:
(1) Total number of shares;
(2) Par value, if any;
(3) Voting rights;
(4) Current rate of dividend; and
(5) Number of shares outstanding and the
market value of each share.
C. If the applicant is a corporation, the
application documents shall identify each person who:
(1) Exercises voting rights in the
corporation; and
(2) Directly or
indirectly owns 2 percent or more of the corporation.
D. The application documents shall include a
certified copy of each voting trust or voting agreement in which capital stock
of the applicant is held and shall state the:
(1) Name and address of each stockholder
participating in the trust or agreement;
(2) Class of stock involved; and
(3) Total number of shares held by the trust
or agreement.
E. The
application documents shall describe the terms of any proxy by which any
capital stock may be voted and shall state the:
(1) Name and address of the person holding
the proxy;
(2) Name and address of
the stockholder who granted the proxy;
(3) Class of stock for which the proxy may
vote; and
(4) Total number of
shares voted by the proxy.
F. The application documents shall state any
provisions, and the procedures by which these provisions may be modified, for
the redemption, repurchase, retirement, conversion, or exchange of an ownership
interest.
G. The application
documents shall state whether the applicant 's stock may be traded through
options and whether the corporation or a stockholder has executed an agreement
or contract to convey any of the corporation's or the stockholder's stock at a
future date.
H. The application
documents shall include a copy or a description of each agreement or contract
disclosed under §G of this regulation.
I. The application documents shall include a
copy of each prospectus, pro forma, or other promotional material given to
potential investors about the proposed racetrack.
J. The application documents shall provide
full disclosure for any stock options that may exist or have been
granted.
Notes
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